fukk yeah it is.
Don't have to make fake small talk with the uninteresting people in the office.
I can listen to whatever music I want, instead of whatever shytty music is deemed to be "neutral".
Saving a bunch of money by being able to cook breakfast/lunch.
Not having to worry about looking busy when you have periods of downtime.
Being able to work from wherever. As long as you've got reliable internet, you can extend time off/vacations. Time off starts on Wednesday? I'm already out of town on Monday, and I'm working from wherever I went over the weekend.
As someone else said though, it's critical that you have some way to separate work from home, though. I've told nearly every one of my coworkers that say they're working out of their living room that they need to quit playing, and clear out some room in a spare bedroom or something. Having a room in my place that's set aside as my office makes a world of difference.